If you plan to sell your home, you might want to consider making some upgrades. Not every upgrade needs to break the bank. Depending on your home and budget, different upgrades might make more sense for you. To figure out what works best, check out these options:
Improve Curb Appeal First impressions matter, especially for potential buyers. There are plenty of small and relatively inexpensive upgrades you could make to make your home look more appealing at first glance. First, simply power washing the exterior of your home and windows will boost the curb appeal by brightening the look of your home. Also, clean your windows on the inside to ensure they are sparkling clean. A new mailbox or house numbers go a long way. The upkeep of the exterior of your home reflects the maintenance of the interior. A well-kept mailbox is a green light for potential buyers. Another option is to add some flowers around your front door or walkway to curate a welcoming entrance for visitors either in pots or flower beds. If you add shrubbery, be sure to vary the height of the plants to add some dimension and extenuate your home’s unique features. Lastly, and perhaps most importantly, replace or paint your front door. Your entry door is a key aspect of your curb appeal, and a new coat of paint or new door altogether goes a long way. If there are any dents, cracks, or functional issues with your front door—invest in a new one. This will help prevent drafts, ensure structural integrity, and boost your curb appeal. If your door is working perfectly fine, consider painting the door instead. According to a Zillow paint analysis, homes (doors painted black or grey are sold with a premium?) that were painted black or charcoal grey sold with an average of $6,271 premium.
Minor Bathroom Upgrade A small bathroom renovation is by far one of the most beneficial upgrades you could choose before selling your home. According to HGTV, bathroom upgrades have the best return at resale at 102%. These upgrades do not need to be expensive at all. Start with a fresh coat of paint. Replace worn or dated light switches, light fixtures, and mirrors. Pick simple, sleek fixtures that will the bathroom a clean look. Another upgrade option is to regrout the tile and re-caulk the tub. Mold in grout and tile can make the whole house feel dirty. These upgrades are relatively inexpensive and can be accomplished within one or two weekends.
Small Kitchen Renovation Kitchens are one of the primary gathering spaces in your home. So, your kitchen will be a big selling point for potential buyers. A minor kitchen renovation will boost your prospects. Like the bathroom renovation, start with a fresh coat of paint and replace the light fixtures, faucets, and light switches. Choose neutral options that will appeal to a wide range of people. A couple of other kitchen upgrades to consider are adding a fresh coat of paint and replacing the old and worn-looking appliances. If you do choose to replace your current appliances, make sure the new ones are energy efficient and match each other. If you don’t want to replace existing appliances but that are mismatched, you can have them painted so they are all the same color. According to HGTV, a minor remodel like this costs around $15,000. But don’t fret— the average ROI (Return on Investment) for kitchen renovations is 98.5% so your investment will be worthwhile. However, you can quickly lose the ROI if you upgrade your kitchen and bathroom too much. Unless you are doing these renovations specifically for your own enjoyment, be cautious of luxury options. Buyers might not want to pay for marble countertops or high-end appliances. When in doubt, stick to the simple but dependable upgrades.
Improve Energy Efficiency Increasing the energy efficiency of your home will not only help you sell your home, but it will save you money in the meantime. Drafts or poor insulation cause higher energy usage and thus, higher utility costs. Start by sealing the cracks around light switches, doors, and electrical sockets. If your insulation is lacking, consider adding more in your basement, attic, and crawlspaces. Lastly, install energy-efficient appliances and fixtures throughout your house. Appliances and equipment that are energy efficient require lower electricity usage and produce lower utility bills. An example of this is smart-home technology (appliances and devices that can automatically adjust and be controlled remotely). Check out some of the best energy-efficient appliance options here. You can further improve your energy efficiency by installing a solar energy system. According to a study conducted by Lawrence Berkely National Laboratory, installing a solar energy system produced a premium of $15,000 for homeowners.
Add a Deck or Porch Everyone needs a little Vitamin D. If you have space, consider adding a deck or a patio so you and the future homeowners can get their daily dose. This is a relatively inexpensive renovation that could increase the square footage of your house and become a major selling point. If you already have a deck or porch, add strategic shrubbery and lighting to enhance your outdoor space. Make sure your surrounding yard is taken care of as well. Before any potential buyers look at your house, pull the weeds out of your lawn and consider adding some flowers.
Small & Significant Repairs Small repairs could be very significant for your home’s appeal to potential buyers. Start with a fresh coat of paint. Paint will cover any wear on the walls and bring a new liveliness into your home. Choose neutral, calming colors. The aforementioned paint color analysis found that painting your bathrooms light blue, your kitchen white, the living room grey, and bedroom dark blue earned the highest premiums for sellers. Other small repairs include routine maintenance. For example, check that your HVAC (heating, ventilation, and air-conditioning system) is working properly. If you have peeling wallpaper or cracked tiles, be sure to replace those as well. While some upgrades can increase your home value, some upgrades can decrease it. If you are planning to sell, steer clear of these two renovations: Pools are polarizing. Parents with small children may not want a safety risk in their backyard but it may be must for another family with older children. If you do install a pool, do it for your personal enjoyment and if you’re planning to sell, consider putting a fence around it. Garage conversions are not popular. Even though converting your garage into a livable space may add square footage to your house, most buyers will prefer a storage unit and covered parking space instead. If you have the budget for a renovation, spend it on a more reliable renovation.
Keep in mind that the popularity of different home upgrades varies by region and neighborhood. Before financially committing to any changes, be sure to look up what will work best depending on your location.